CII Shares Surge on Ho Chi Minh City’s Plans for Thu Thiem Land Auctions
During the trading session on August 13, CII shares of Ho Chi Minh City Infrastructure Investment Corporation (CII) soared to the ceiling price of 21,850 VND per share right after the opening bell, with no sellers in the market.
Counting today’s session, CII shares have hit the ceiling for five consecutive sessions and have been on an upward trajectory since August 1. As of the beginning of August, CII shares have surged by nearly 34%. The company’s market capitalization currently stands at approximately 13,700 billion VND.
The surge in CII shares comes on the backdrop of Ho Chi Minh City People’s Committee’s decision to announce plans for organizing auctions for land plots in the new Thu Thiem Urban Area and other areas outside Thu Thiem in 2025.
According to the Department of Agriculture and Environment, two projects with expected revenues of 4,168 billion VND have been submitted to the Land Price Appraisal Council. These include the Thu Thiem Observation Tower Complex project in functional area No.2b of the new urban area, with expected revenue of 4,000 billion VND, and the Song Viet Complex project in functional area No.1, with expected revenue of 168 billion VND.
Additionally, there are 23 more projects expected to be submitted to the Land Price Appraisal Council in 2025, including 18 projects with anticipated revenues of 7,956 billion VND and 5 projects with land prices to be determined based on Conclusion No.77 of the Politburo.
Breaking News: ‘Super Sandboxes’ in Ho Chi Minh City and Da Nang to Pilot Cutting-Edge Innovations: Digital Currency, Fintech, Blockchain, and Quantum Tech.
The latest in tech and finance innovations will be piloted in a controlled test environment across two international financial hubs: Ho Chi Minh City and Danang.
The Stock Market Conundrum: Assessing the Valuation of Securities as VN-Index Hits 1,600 Points
Amid the stock market’s exuberance, market participants are left wondering whether securities firm stocks, which typically move in tandem with the broader market, remain attractively priced.
The City of Dreams: Unveiling 22 New Projects with 20,000 Social Housing Units
By the end of 2025, Ho Chi Minh City is set to complete an additional 6,300 social housing units. The city plans to grant construction permits for 22 social housing projects, totaling approximately 20,000 apartments.
The Birth of a New Administrative Hub: A Home for 7,000 Civil Servants in Ho Chi Minh City
The Ho Chi Minh City People’s Committee has proposed the city’s new administrative center be built on the central lake area of the Thu Thiem New Urban Area. With construction slated to begin in early 2026, this ambitious project will serve as a pivotal landmark for the city’s administrative functions.
The Devastating Floods: A Costly Rescue Mission for Ho Chi Minh City
“The notorious flooding site along National Highway 13, near the Suoi Giua toll station, is finally getting the attention it deserves. The Ho Chi Minh City administration has allocated a substantial budget of over VND 3,000 billion for a much-needed drainage project named ‘Suoi Giua – Bung Cau Drainage Axis.’ This ambitious undertaking aims to eradicate the perennial flooding that has plagued this stretch of road for far too long. With this initiative, drivers can soon look forward to smoother and safer journeys, even during the rainy season.”
